A successful transition of the family operation and assets to the younger generation is a significant accomplishment, typically marked by a great deal of time and effort.
Jennifer Denchak Wetzel
“Basis” is a tax term used to describe an owner’s financial investment in a property. When that property is sold, the basis is the gauge for determining whether there is gain or loss from the sale and the resultant income tax consequences of the transaction, if any.
The question of whether to form a legal entity to manage and run your agricultural operation is often a major concern for farmers.
Since agricultural land, almost by definition, is located in rural, sparsely-populated areas across the state, often in townships with loose, or even no, zoning requirements, many such landowners will be approached by a telecommunications company to lease a small portion of their land to construct a cellular tower and related equipment.
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